KIOCL Ltd gets approval for Phase 1 of Devadari Iron Ore Mine Project

Hon'ble Finance Minister and Hon'ble Steel Minister have approved the proposal appraised by Public Investment Board in respect of Phase-I of Devadari Iron Ore Mine (DIOM) Project (ML No20/2023) of KIOCL Limited, at Bellary District, Karnataka, with an estimated cost of Rs.882.46 Crores including ex-post facto approval of pre-operative expenditure of Rs. 529.19 Crores, has been granted. Cost of Phase-I of the project is to be met through reserves of KIOCL Ltd and remainder through debt, with a debt-to-equity ratio of 30:70.

Shares of KIOCL Limited was last trading in BSE at Rs. 447.35 as compared to the previous close of Rs. 446.75. The total number of shares traded during the day was 8545 in over 717 trades.

The stock hit an intraday high of Rs. 454.05 and intraday low of 443.85. The net turnover during the day was Rs. 3842792.00.

Source : Equity Bulls

Keywords

KIOCL INE880L01014 Approval Phase1 DevadariIronOreMineProject